Is this the start of a longer-term uptrend?
4 mensagens
|Página 1 de 1
Verifiquei agora, que por vezes os comentários dos gráficos não estão completos, sendo assim é melhor consultarem o link
http://cbs.marketwatch.com/news/story.asp?guid={457370EA-B5FC-4EE6-B930-0FBD8C25CAB1}&siteid=mktw&dist=nbs
http://cbs.marketwatch.com/news/story.asp?guid={457370EA-B5FC-4EE6-B930-0FBD8C25CAB1}&siteid=mktw&dist=nbs
-
- Mensagens: 596
- Registado: 11/8/2004 10:39
The charts below identify several names worth watching from a technical perspective. These are intended as radar screen names -- sectors or stocks that appear well positioned for a potential move in the specified direction over the near term.
- Anexos
-
- The Dow Transports ($TRAN: news, chart, profile) have yet to confirm the Dow Industrials' August low with a new low of its own. This is a bullish development, and something followers of Dow Theory will be tracking.
Under the theory, transport companie - dow transports.gif (15.44 KiB) Visualizado 351 vezes
-
- The Telecom Index remains among the few groups breaking higher ahead of the broad markets.
In mid-August, it edged above its major moving averages before taking out its six-month downtrend last week. Sector components driving the groups strength, and - telecom index.gif (14.02 KiB) Visualizado 358 vezes
-
- Mensagens: 596
- Registado: 11/8/2004 10:39
The bigger picture
The bigger picture
In a broader sense, the overall technical picture remains bullish. Last week, both the Dow and the S&P 500 cleared their six-month downtrends, and have since found support right around their 200-day moving averages.
Those 200-day moving averages set the longer-term trend, and with the Dow and the S&P back above those levels, market bears are now on the wrong side of the analytical fence.
So while the near-term outlook turned bullish here on Aug. 16 -- and remained bullish with that successful test of Nasdaq 1,821 -- a lot of skeptics just turned the corner late Thursday.
Yet the obvious question about Thursday still ties back to the complete absence of conviction. The Nasdaq turned just 1.2 billion shares on Thursday's rally, and then pulled back Friday.
That lack of volume is a legitimate shortcoming, and places in question the sustainability of the current rally.
So looking ahead this week, the three technical levels to watch fall out as follows:
The Dow's 200-day moving average at 10,264.
The S&P 500's August high at 1,109.
Nasdaq resistance at the May low of 1,865.
If the indices can maintain -- and in the case of the Nasdaq reclaim -- those technical levels, the chances are this corrective bounce that started on Aug. 16 will begin to be taken more seriously.
In a broader sense, the overall technical picture remains bullish. Last week, both the Dow and the S&P 500 cleared their six-month downtrends, and have since found support right around their 200-day moving averages.
Those 200-day moving averages set the longer-term trend, and with the Dow and the S&P back above those levels, market bears are now on the wrong side of the analytical fence.
So while the near-term outlook turned bullish here on Aug. 16 -- and remained bullish with that successful test of Nasdaq 1,821 -- a lot of skeptics just turned the corner late Thursday.
Yet the obvious question about Thursday still ties back to the complete absence of conviction. The Nasdaq turned just 1.2 billion shares on Thursday's rally, and then pulled back Friday.
That lack of volume is a legitimate shortcoming, and places in question the sustainability of the current rally.
So looking ahead this week, the three technical levels to watch fall out as follows:
The Dow's 200-day moving average at 10,264.
The S&P 500's August high at 1,109.
Nasdaq resistance at the May low of 1,865.
If the indices can maintain -- and in the case of the Nasdaq reclaim -- those technical levels, the chances are this corrective bounce that started on Aug. 16 will begin to be taken more seriously.
-
- Mensagens: 596
- Registado: 11/8/2004 10:39
Is this the start of a longer-term uptrend?
Is this the start of a longer-term uptrend?
Tuesday's set ups: TRAN, XTC, MBT, MAGS, BEBE, NIHD, EGHT, TMTA
By Michael Ashbaugh, CBS.MarketWatch.com
Last Update: 10:30 AM ET Sept. 7, 2004
CINCINNATI (CBS.MW) -- If the markets stage a technically significant break higher, but nobody is there to trade it, does the move really count?
That's the general question after a nice rally last week that occurred on light volume, while many were away ahead of the holiday weekend and due to the Republican Convention
Tuesday's set ups: TRAN, XTC, MBT, MAGS, BEBE, NIHD, EGHT, TMTA
By Michael Ashbaugh, CBS.MarketWatch.com
Last Update: 10:30 AM ET Sept. 7, 2004
CINCINNATI (CBS.MW) -- If the markets stage a technically significant break higher, but nobody is there to trade it, does the move really count?
That's the general question after a nice rally last week that occurred on light volume, while many were away ahead of the holiday weekend and due to the Republican Convention
- Anexos
-
- The S&P 500's hourly chart above illustrates its recent price activity.
Remember the S&P topped out two Fridays ago at the August high of 1,109 -- an area initially introduced as a potential sticking point on Aug. 24.
It then pulled back to succes - S&P 500 hourly chart.gif (12.63 KiB) Visualizado 373 vezes
-
- The Dow Industrials' near-term picture closely matches that on the S&P 500.
Again, the Dow topped out two Fridays ago at 10,211 before pulling back to successfully test support around the August 18 close of 10,083.
Then like the S&P, the Dow attra - Dow Industrials 60 minutes.gif (14.63 KiB) Visualizado 375 vezes
-
- The Nasdaq's near-term picture carries similarities to the other indices, with one important difference.
Like the other two indices, the Nasdaq topped two Fridays ago just above the May low of 1,865.
It then pulled back to successfully test suppor - nasdaq 60 minutes.gif (13.67 KiB) Visualizado 375 vezes
-
- Widening the view to the daily time frame adds perspective to the Nasdaq's relative weakness.
The index remains entrenched under its major moving averages, and its six-month downtrend. - nasdaq daily.gif (17.13 KiB) Visualizado 376 vezes
-
- Yet while the Nasdaq still struggles, the Dow's daily chart illustrates just how significant its recent rally might be.
Last week, the index cleared no less than three significant technical levels -- its 50-day moving average, its six-month downtrend, - dow daily.gif (17.94 KiB) Visualizado 376 vezes
-
- The broader picture on the S&P 500 closely resembles that on the Dow.
Again, the S&P cleared three critical technical areas last week -- its 50-day moving average, its six-month downtrend, and its 200-day moving average.
And like the Dow, the S&P - S&P 500 daily.gif (15.89 KiB) Visualizado 374 vezes
-
- Mensagens: 596
- Registado: 11/8/2004 10:39
4 mensagens
|Página 1 de 1